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Property meant for Margaritaville’s satellite lot sold amid financial trouble

FORT MYERS BEACH, Fla. – The company managing the Margaritaville Resort’s construction project announced they are restructuring.

Residents on Fort Myers Beach have been anxiously awaiting the highly anticipated resort construction to start. Right near the intersection of Pine Ridge Road and San Carlos Blvd, you can still see the sign from TPI Hospitality, advertising their plans for a plot of land there, but now, that plan is no more. 

“That’s probably the least of our concerns right now,” Fort Myers Beach Mayor Ray Murphy said. “The major concern is getting the project going.”

That place was once the proposed site of an off-island parking lot for employees and guests of the future Margaritaville Resort, but now it’s been sold amid financial trouble. 

“It was a private company, then they sold it to their employees, they went through some difficulty here with the pandemic,” the mayor added. 

Meanwhile back on Estero Island, construction crews are getting ready to bulldoze the buildings on the original site, a move Mayor Murphy said is coming this June. 

With the developer Tom Torgerson pushing on with TPI, and a new proposed satellite lot, many are anxious to see the transformation of Fort Myers Beach begin. 

“We’re all anxious. It’s been a long time coming, but these things happen with development,” Mayor Murphy said. “I’ve been in the business, I’m aware of it myself.”

The post Property meant for Margaritaville’s satellite lot sold amid financial trouble appeared first on NBC2 News.

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